Reengineering Involves Incremental, Ongoing Changes and Redesigning to Make Work

question 41

True/False

Reengineering involves incremental, ongoing changes and redesigning to make work processes more cost efficient.

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Definitions:

Bargaining Power

The ability of a party to exert influence or control over the terms and conditions of negotiations due to its strengths or advantages.

Substitutes

Alternatives or replacements for someone or something, typically used in the context of materials, products, or personnel.

BCG Matrix

A strategic planning tool that classifies business units or products into four categories based on market growth and market share.

Question Mark

A term used in the Boston Consulting Group (BCG) matrix to describe a product or business with low market share in a high-growth market, requiring investment to increase market share or divest.